News

Bloomberg Facebook Inc sent a clear signal with its agreement to buy a brain computing startup: heightened regulatory scrutiny and intensifying antitrust probes won’t slow down its pace of acquisitions. With its announcement of plans to purchase CTRL-Labs for at least $500 million, Facebook continued its pattern of snapping up promising startups in new markets, the very behaviour that the ...

Bloomberg Aston Martin Lagonda Global Holdings Plc raised $150 million in a steeply priced bond sale, responding to liquidity concerns as the luxury carmaker bets that a future SUV model will boost cash flow. The debt issue comes with a 12 percent coupon, double the cost of Aston Martin’s existing bonds. A further $100 million of notes could be available ...

Bloomberg Renault SA Chairman Jean-Dominique Senard said he would back a tie up with Fiat Chrysler Automobiles NV should another opportunity arise to get a deal. If the project with Fiat “were to come back under conditions that are acceptable for all, I would be delighted,” Senard told French senators at a hearing in Paris, adding that there’s nothing currently ...

Bloomberg Bain Capital and Advent International are preparing a fresh bid for German lighting maker Osram Licht AG, ratcheting up a bidding war with Austrian sensor maker AMS AG, according to people with knowledge of the matter. The two buyout firms planneed to announce their intention to submit a new proposal as soon as Wednesday, with a formal bid coming ...

Bloomberg Contract workers for Google in Pittsburgh voted to join the United Steelworkers, according to the union. The result was 49 votes for and 24 against, said Maria Somma, the organising director for the union. This is one of the first victories for organised labour since waves of employee activism began consuming the technology giant last year. The union hopes ...

Abu Dhabi / WAM Since its launch in 2017, the UAE National Space Programme has grown, achieving significant milestones, placing the country as a key player in the changing landscape of the global space economy. On September 25, Emirati astronaut Hazza Al Mansoori will embark on a mission to the International Space Station, marking the UAE’s burgeoning space sector goals ...

SHARJAH / WAM Sharjah added another feather to its cap after the Hamriyah Free Zone Authority (HFZA), bagged the ‘UAE’s Fastest Growing Brand 2018-19’ award in India. Saud Salim Al Mazrouei, Director of HFZA and Sharjah Airport International Free Zone, also won the ‘Leader Award, in recognition of his continuous efforts to develop, improve and modernise the HFZA’s services and ...

Bloomberg Incoming European Central Bank President Christine Lagarde said the global economy is likely to dodge an outright contraction, though the trade tensions remain the top threat to the growth outlook. “It is not in the baseline to have a recession,” Lagarde said in a Bloomberg Television interview on Tuesday. “That said, it’s mediocre growth, it’s at risk because of ...

Bloomberg Saudi Arabia will waive the fees it requires industrial companies to pay for their foreign workers for a period of five years, lightening a burden on the private sector. Since January 2018, businesses have been required to pay fees for foreign workers they employ, part of the government’s strategy to raise non-oil revenue. In February, King Salman approved a ...

DUBAI / WAM UAE entities are expected to invest up to $7 billion in India’s food sector in the next three years as part of the UAE-India food corridor project that aims to secure the UAE’s food security, an Indian minister told Emirates News Agency (WAM). These entities, coordinated by Dubai-based Emaar Group, plan to invest up to $5 billion ...